Government support to adopt modern agricultural methods, and reinforcement of intelligent assets rights over farming modernizations across the globe acts as the major factors driving for the growth of the farm management software market.
Moreover, growing population demand for food worldwide, and increasing implementation of cloud computing in real time among agriculture industry are also key factors that propels the market growth during the forecast period.
However, lack of technical knowledge for farmers restricts the growth of market. Contrarily, on-going R&D for obtainability of high-speed internet connectivity among developing regions is expected to create opportunities for farm management market.
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The reinforcement of Intellectual Property Rights (IPR) finished farming revolutions has a great impact in the global agriculture market as it aids in poverty exclusion and economic development. This reinforcement is reflected in the economic growth in various countries that are supporting and allowing such rights.
The IPR system provides the protection for development in any invention as well as expands the scope of protection. Emerging technologies have a very high adoption rate in the agriculture sector, and thus IPR has become a major concern for the main players in this sector.
Changes that have taken place in IPR within the agricultural sector are relevant to the pattern in which the international agricultural research is being organized through Consultative Group on International Agricultural Research (CGIAR) and National Agricultural Research Organizations (NARO).
Use of farm management software solutions in agriculture management requires technical knowledge to a certain extent. The farmer needs to have a substantial considerate of the method to usage this software in an effective way. Even though being carefully proficient of connecting these systems, growers are not capable to use these systems due to the lack of technical awareness.
The incapability of certain farmers to understand the methods to practice farm management software, agricultural data control, and its application in conclusion making acts as a restraining factor for the growth of the farm management software market. Currently, the influence of this feature is great; as a consequence, the popular of the agriculturalists are unwilling to accept this farm management software.
The upcoming influence of this restrictive factor is projected to decrease considering main market companies are upcoming accelerative to deliver discussion, training, and guidance sessions to the farmers and enhance their confidence to use farm management software.
Impact of COVID-19 on Farm Management Software Market:
- The global impact of the COVID-19 is expected to significantly affect the firm management software market in 2020.
- The ongoing COVID-19 situation has put the agriculture sector. There is a low demand in food sector, and sowing work is halted, owing to the labor shortage and lockdown around the globe, which directly affects the market growth
- Once the situation gets normal, the demand for this software is expected to increase as farmer tend to adopt such software to cut the overall operational cost.
Major players analyzed include AG Junction Inc., AG Leader Technology, Conservis Corporation, DICKEY-john Corporation, DeLaval Inc., Deere & Company., Raven Industries Inc., SST Development Group, The Climate Corporation, and Trimble Inc.
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